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For the quarter ended June 2016, the net sales have increased by 6% to Rs 176.29 crore. As of June 30, 2016, the company was conducting approximately 3,89,400 campaigns for our paid advertisers as compared to 3,46,900 campaigns as of June 30, 2015 representing a Y-o-Y growth of 12%. The company database consisted of approximately 16.6 million listings as compared to 15.3 million listings as of June 30, 2015 representing a Y-o-Y growth of 8%. The company currently has 32 search plus services live on the platform. OPM decreased by 1063 bps to 16.6%. the net profit increased by 8% to Rs 38.93 crore due to fall in effective tax rate
Company's Standalone Performance
For quarter ended June 2016
The net sales have increased by 6% to Rs 176.29 crore. As of June 30, 2016, the company was conducting approximately 3,89,400 campaigns for our paid advertisers as compared to 3,46,900 campaigns as of June 30, 2015 representing a Y-o-Y growth of 12%. The company database consisted of approximately 16.6 million listings as compared to 15.3 million listings as of June 30, 2015 representing a Y-o-Y growth of 8%. The company currently has 32 search plus services live on the platform
OPM decreased by 1063 bps to 16.6% due to increase in employee cost and other expenses. The operating profit decreased by 35% to Rs 29.26 crore.
At the end of the quarter, the company had 11932 employees.
Other income has inclined by 110% to Rs 28.66 crore. Depreciation inclined by 33% to Rs 8.96 crore. The profit before tax and EO has decreased by 6% to Rs 48.96 crore.
Tax outgo decreased by 38% to Rs 10.03 crore. Tax rate has decreased from 30.8% to 20.5% on Y-o-Y. As a result, the net profit increased by 8% to Rs 38.93 crore.
For year ended March 2016
The net sales have increased by 17% to Rs 690.83 crore. OPM has declined by 342 bps to 24.7%. The operating profit has inclined by 3% to Rs 170.54 crore.
Other income inclined by 20% to Rs 58.49 crore. Depreciation has increased by 29% to Rs 31.1 crore. The profit before tax has increased by 4% to Rs 197.93 crore.
Total tax outgo has increased by 9% to Rs 56.13 crore. Tax rate has increased from 27.1% to 28.4%. The net profit has increased by 2% to Rs 141.80 crore.
Management Comment:
Mr. V.S.S. Mani, MD & CEO, Just Dial Ltd said:
The Company has initiated steps on the execution side which will yield results over the next few quarters. We are confident that with these measures we will get back into a sustainable growth trajectory, in line with what we have witnessed historically.
Other Developments
The Board of Directors on August 16, 2016 have approved the scheme of arrangement between the company and Just Dial Global Private Limited (JDGPL) involving demerger of the Data and Information undertaking of JDGPL ('Demerged undertaking") and vesting of the same in Just Dial, as a going concern under the Companies Act 20l3.This scheme will be effective subject to members and regulatory approval
Valuation
The stock is trading at Rs 468.50 at BSE.
The promoters hold 32.45% stake in the company.
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